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Satnews Daily
May 30th, 2019

New EVP — CFO Named by Intelsat

Intelsat has named David M. Tolley as Executive Vice President and Chief Financial Officer, effective June 3, 2019.

Tolley will report to Intelsat’s Chief Executive Officer, Stephen Spengler, and oversee Intelsat’s global finance organization. He will serve on Intelsat’s Management Committee and be based in the company’s U.S. administrative headquarters in McLean, Virginia.

David M. Tolley.

Tolley brings more than 20 years of financial experience to Intelsat. He most recently served as the Chief Financial Officer of OneWeb where he led the global finance organization and served on the company’s Executive Committee. Prior to OneWeb, Tolley served as a Senior Managing Director in the Private Equity Group at Blackstone (NYSE: BX) where he led satellite services strategy and investing and served on the Private Equity Investment Committee. During that period, he was Chairman of the Board of Directors of NewSkies Satellites N.V. and led the public-to-private acquisition, re-IPO and ultimate divestiture of NewSkies to SES S.A. Prior to Blackstone, he was a Vice President at Morgan Stanley in the Investment Banking Division, where he provided banking and advisory services to established and emerging companies in the broader communications sector.

Tolley earned his bachelor's degree in economics and history from the University of Michigan and his MBA from Columbia Business School. He currently serves on the board of directors of ExteNet Systems and the Smithsonian National Air and Space Museum.

Commenting on Tolley’s appointment, Spengler said that David is a great addition to the company's leadership team and will help the firm to execute the long-term strategy as innovative services are brought to to market as well as in pursuing new opportunities in the verticals that the company serves. His wealth of investing, corporate finance and capital markets experience will be a tremendous asset as Intelsat continues to take a disciplined approach to capital allocation. He will build upon the progress that Jacques Kerrest, our retiring CFO, has made toward achieving our financial objectives and focus on delivering value to all of our stakeholders.

Tolley added that he was excited to be joining Intelsat at a pivotal time, when global expectations for ubiquitous broadband connectivity are growing faster than ever. The company is uniquely positioned to capitalize on the opportunities ahead and play an integral role in the global 5G telecommunications ecosystem. It’s an exciting time for Intelsat.